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China, Sri Lanka to restart FTA talks

by Kalpana Pandey
January 10, 2022
in News, Asia, EXIM & International Trade
Reading Time: 2 mins read
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Sri Lankan President

During a meeting with Sri Lankan President Gotabaya Rajapaksa in Colombo on Sunday, Chinese State Councilor and Foreign Minister Wang Yi called on China and Sri Lanka to discuss the restart of talks on free trade agreement by tapping the opportunities of the Regional Comprehensive Economic Partnership (RCEP) agreement and China’s vast market. Wang said the Colombo Port City and Hambantota Port projects could be engines for pushing forward bilateral cooperation.

China is ready to offer vaccines and medical supplies to Sri Lanka and work together on effective medicines. Chinese enterprises will be encouraged to invest in Sri Lanka, Wang said.

Wang said the two countries opened the door for friendly exchanges by signing the Rubber-Rice Pact 70 years ago, demonstrating their national spirit in the fight against hegemony and power politics, and breaking the Cold War isolation imposed by the West.

“The spirit of the pact characterized by independence, self-reliance, unity and mutual support is deeply rooted in the hearts of the two peoples, and such spirit should be carried forward,” Wang said.

President Gotabaya Rajapaksa said Sri Lanka is willing to work with China to hold a series of events marking the 65th anniversary of diplomatic ties between the two countries and the 70th anniversary of the signing of the Rubber-Rice Pact. Sri Lanka is ready to strengthen cooperation with China in the fields of economy, trade, finance, tourism and infrastructure, so as to benefit the people of the two countries, he stressed.

Wang also met with Prime Minister Mahinda Rajapaksa and Foreign Minister G.L. Peiris, and attended a ceremony launching a series of events marking the 65th anniversary of the establishment of diplomatic ties between the two countries and the 70th anniversary of the signing of the Rubber-Rice Pact.

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Sri Lankan Foreign Minister G.L. Peiris said in a meeting with Wang that Sri Lanka will continue to firmly adhere to the one-China policy, support China’s just propositions on international issues, and oppose any attempt to politicize the pandemic.

Wang said the pandemic has not affected bilateral relations, with their friendship further enhanced through the joint fight against COVID-19 virus.

China proposes that a forum on the development of Indian Ocean island countries be held at an appropriate time to build consensus and synergy, and promote common development, in which Sri Lanka can play an important role, said Wang.

Source : Global Times

Tags: china tradeRegional Comprehensive Economic Partnership (RCEP) agreementSri Lanka Free Trade Agreement
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